Manufacturing Financial News

India will soon start making equipment for semiconductor manufacturing, IT minister Ashwini Vaishnaw said on Saturday. “The entire semiconductor ecosystem of fabs, ATMP units, chemicals, gases, substrate, consumables and equipment for semiconductor manufacturing will be made in India,” he said. He was speaking at the inauguration of American chip equipment supplier Applied Materials’ India Validation Centre in Bengaluru which was set up at a cost of $20 million.

₹10 crore. However, the one Vande Bharat Sleeper Coach cost comes around ₹8-9 crore because a lot of work has been happening in-house with our own manpower and technology." BEML has also received an order to make 160 coaches of the Vande Bharat Sleeper.

Railway Minister Ashwini Vaishnaw recently inaugurated the carbody structure of the Vande Bharat sleeper transit, a new project by Indian Railways. The sleeper transit, currently under construction at BEML, aims to revolutionize overnight travel with enhanced passenger comfort. The first Vande Bharat sleeper trainset is expected to be completed in the coming months. BEML Begins Production of Vande Bharat Express Sleeper Prototype BEML, in Bengaluru, has commenced the production of the first Vande Bharat Express sleeper prototype, as reported by TOI in October 2023. The Vande Bharat sleeper train, a self-propelled train set, is designed to offer superior features compared to the existing Rajdhani Express trains, setting a new standard in overnight travel. Shantanu Roy, CMD of BEML Ltd, expressed delight in contributing to this milestone, emphasizing the focus on comfort and world-class facilities while reducing travel time.

Railway Minister Ashwini Vaishnaw Saturday unveiled the body structure of Vande Bharat's sleeper coaches at a Bharat Earth Movers Limited (BEML) facility here. BEML comes under the Ministry of Defence and manufactures products for various sectors such as defence, aerospace, mining, construction, rail and metro among others. It has also got orders to make 10 trainsets of (160 coaches) Vande Bharat Sleeper. Vaishnaw said Vande Bharat train has three versions — chair car, sleeper and metro. While the chair car version has already been launched and is very popular, the first carbody of Vande sleeper is ready. «Now, its furnishing work will happen. Manufacturing carbody is the most difficult work. Today, we will discuss how to scale it up further,» Vaishnaw told mediapersons.

Ashwini Vaishnaw on Saturday hailed Nivetti Systems for the indigenously developed 2.4 tbps router. He termed it a momentous achievement for the country. «I came to Bengaluru for a very special purpose. First indigenously developed 2.4 tbps router. It's not a very small thing. It's really a momentous achievement for our country,» Vaishnaw, who holds the Electronics, Communication, Information Technology and Railways portfolios, said at the launch here. «This is indeed a very big milestone that we have achieved,» he noted.

By Daniel Wiessner

PM Surya Ghar Muft Bijli Yojana must register on the national website, pmsuryaghar.gov.in. The National Portal would help the families by offering pertinent data, such vendor ratings, benefits calculators, and suitable system sizes. Customers have the option of selecting both the manufacturer and the supplier for their rooftop solar installation.

On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

Narendra Modi on Saturday unveiled projects worth Rs 55,600 crore in the Northeast, including the strategic Sela tunnel which will provide all-weather connectivity to Tawang in Arunachal Pradesh. The PM unveiled the projects spread across Manipur, Meghalaya, Nagaland, Sikkim, Tripura and Arunachal Pradesh at a programme in Itanagar. The Sela tunnel, constructed at a cost of about Rs 825 crore, is an engineering marvel. It will provide all-weather connectivity to Tawang across Sela pass on the Balipara-Chariduar-Tawang Road in Arunachal Pradesh, a statement said. The project, the foundation stone of which was laid by PM Modi in February 2019, will not only provide a faster and more efficient transport route in the region but is of strategic importance to the country as it is located near the frontier with China.

Ford exited India in 2021 but it has not completely left the country. Infact, Ford India is now in an expansion mode but in a slightly different context. As per a report in the Times of India, Ford is expanding its Chennai tech hub and is planning to hire an additional 3,000 employees in the next two to three years to develop electric vehicle (EV) applications for its global EV platforms. The Chennai hub currently has 12,000 employees.

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There is demand for 40,000-50,000 employees across job roles in 2024, a 25-30% increase over last year, says staffing company Randstad. The sector is expected to see more than 800,000 to 1 million job openings over the next five years. «The demand for talent in the sector has reached an all-time high to build infrastructure, industrial parks, testing systems and R&D (research and development),» said Yeshab Giri, chief commercial officer, operational talent solutions, Randstad India.

NEW DELHI : Amidst global economic uncertainties and supply chain disruptions, the government has expanded the scope of a scheme designed to make Indian exports more competitive globally by refunding various central, state and other local duties and taxes. The government has expanded the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to support advance authorisation holders, export-oriented units, and special economic zones.

authorisation holders and export-oriented units (EOUs) from mandatory quality control orders for imported goods that are used as inputs for exports. It said that the exemption will be with pre-import conditions, and those inputs will be utilised in the manufacturing of the export products. «Enabling provisions are made for exempting inputs imported by Advance Authorisation holders and EOUs from mandatory Quality Control Orders (QCOs),» the Directorate General of Foreign Trade (DGFT) said in a notification. The unutilised material will be destroyed in the presence of jurisdictional GST/customs authorities, it added.

Canadian employers are continuing to hire, but are still outpaced by population growth in the country, Statistics Canada said Friday.

Indian Semiconductor Mission or ISM scheme, from the current ₹ 76,000 crore, following the growing popularity worldwide. “We can increase funding when the ISM scheme gets exhausted. If we have to bring more fabs in the country, then we may need more money, and may have to bring in more funds to this focus area,” S Krishnan, Secretary MeitY told ET. The top official further said that in the next 2 to 3 years, the government would try to have 2-3 more semiconductor fabrication (fab) units in the country.

Motorcycle & Scooter India (HMSI) on Friday said it is recalling certain units of its superbikes GL1800 Gold Wing and CBR1000RR to inspect and replace faulty fuel pumps. Honda GL1800 Gold Wing manufactured between December 2017 and December 2023 and CBR1000RR manufactured between September 2017 and April 2020 are affected, the two-wheeler major said in a statement. HMSI, however, did not provide an exact number of the units being recalled. «The fuel pump impellers may have been improperly molded, which can cause them to deform and result in fuel pump failure. If the fuel pump module becomes inoperative, the engine may not start or can stall without indication while riding,» the company stated.

Adani Group is going to make big investments in the defence sector in the next 10 years in line with the government's push for achieving self-reliance in defence manufacturing, a top executive of the company said. Ashish Rajvanshi, the CEO of Adani Defence and Aerospace, said the company is complementing the government's efforts towards 'Make in India', noting that «everyone will have to work together» to realise the desired goal. «We are going to make big investments in the defence sector in the next 10 years,» he said at NDTV's 'Defence Summit' on Thursday. Rajvanshi, however, did not elaborate on the investments.

Sanand Plant in Gujarat, India, celebrated a significant milestone, reaching the production landmark of 1 million cars. The plant, which was established around 14 years ago to manufacture small cars, has evolved into a key facility for producing electric vehicles (EVs) and factory-fitted compressed natural gas (CNG) cars. According to Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicle and Tata Passenger Electric Mobility, the Sanand-1 plant contributes to 20% of the company's total car production. Plant Evolution and Production Details Production Evolution

NEW DELHI, MUMBAI : The proposed free trade agreement between India and the European Free Trade Association is unlikely to address the issue of carbon tax—a key concern for domestic steelmakers looking to export to Europe. The two trading partners will instead address the issue through a separate pact later, two government officials told Mint. EFTA and India are likely to sign a free trade pact on Sunday, these officials said.

deals. Companies in seed, early and late stages had raised about $147 million from 33 rounds during March 2 to March 8, 2023, as per data from Tracxn.